KARACHI: The next two weeks’ review, which will be place on February 15, 2023, may see an increase in petrol prices of Rs. 20 per litre.
According to sources in the oil sector, the calculations used to determine the most recent increase in petrol prices were free on board (FOB) prices.
During the most recent fortnightly review of fuel prices, the government implemented a significant rise of Rs 35 per litre. The government currently levies a petrol fee of Rs 50 per litre, although general sales tax (GST) has not yet been implemented.
Depending on how the foreign currency rate is altered in the upcoming review, the price of gasoline could rise much more.
They added that the exchange rate was high, which would prevent local customers from receiving any benefits or price reductions on fuel products.
Although the cost of gasoline has fallen on the global market, domestic consumers have lost out as a result of the sharp devaluation of the rupee versus the dollar.
The sources further mentioned that if the government increased the price of gasoline by an additional Rs20 per litre due to the exchange rate, the price of gasoline might increase by an additional Rs40 per litre.
On the other hand, there had been no increase in the FOB price of diesel after exchange rate adjustments. According to the sources, if the exchange rate were changed, diesel prices might increase at the next review.
